Ansoff matrix

Jun 27th, 2015
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The Ansoff matrix presents the product and market choices available to an organisation. Herein markets may be defined as customers, and products as items sold to customers. The Ansoff matrix is also referred to as the market/product matrix.

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Ansoff matrixIntroductionTheAnsoff matrixpresents the product and market choices available to anorganisation. Herein markets may be defined as customers, and products as items sold to customers. The Ansoff matrix is also referred to as the market/product matrix. Some texts refer to the market options matrix, which involves examining the options available to theorganisationfrom a broader perspective. The market options matrix is different from Ansoff matrix in the sense that it not only presents the options oflaunching new productsandmoving into new markets, but also involves exploration of possibilities of withdrawing from certain markets and moving into unrelated markets. Ansoff matrix is a useful framework for looking at possiblestrategiesto reduce the gap between where the company may be without a change instrategyand where the company aspires to be.For any decision to be taken at corporate level, you need the right strategic tools. Ansoff matrix is one of them. Ansoff matrix helps a firm decide their market growth as well as product growth strategies. The 2 questions which the Ansoff Matrix can answer is How can we grow in the existing markets and What amends can be made in the product portfolio to have better growth.From the above two questions, it is clear that Ansoff matrix deals with the companies external market scenarioas well as the product portfolio which the firm has. The matrix is divided in two quadrants Th

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